Many financial institutions are hopelessly insolvent, holding mountains of toxic waste that will never be worth anything. So why are we implementing policies that simply maintain a credit-based economy?
Capacity, capital, collateral, credit, and character are the "Five Cs" that loan offers learn in Lending 101. But to most small-business loan applicants in need of money, it is an esoteric and arduous exercise.
If you have excellent credit, there's a good chance that you have a Visa Signature credit card, a World MasterCard credit card or an American Express charge card. If this is, indeed, the case, you might be in for one nasty surprise.